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Deposit Checks By iPhone
kaychoro writes to mention that at least one privately held bank is planning on removing a little bit more legwork for the consumer by allowing the electronic submission of paper checks via a new iPhone app. The app would allow users to take a picture of the front and back of the check and submit that to the depository. "Customers will not have to mail the check to the bank later; the deposit will be handled entirely electronically, and the bank suggests voiding the check and filing or discarding it. But to reduce the potential for fraud, only customers who are eligible for credit and have some type of insurance through USAA will be permitted to use the deposit feature. Mr. Peacock said that about 60 percent of the bank's customers qualify."
When I voted for Obama, I voted for change. Not the kind that jingles in the purse pocket of the 90 year old lady standing in front of me at the Piggly Wiggly searching for her checkbook in her handbag. I understand that we probably can't leave these grannies without their paper checks, but at some point, probably during the Obama administration, a bunch of them will die off. We should use that as an opportunity to do away with checks completely.
Electronic bank transfer is where it's at. Paperless society. Swipe and go at the grocery store.
Please Mr. Obama, implement real change. Get rid of checks.